Meridian Capital Group Facilitates Sale Of 500 Franklin Turnpike Office Building For $22.5M

500 Franklin Turnpike is an office asset located in Ramsey, NJ. The property features a total square footage of 146,442 and was sold for a transaction amount of $22,500,000, translating to a price per square foot of $153. The building is 95% occupied.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $22,500,000
• Square Footage: 146,442
• Price per Square Foot: $153
• Address: 500 Franklin Turnpike
• Market: Ramsey
• Financing Secured: $15.6 million from First Commerce Bank

The transaction was facilitated by the Meridian Capital Group, where David Schechtman and Ikey Betesh negotiated the sale, while Chaim Sherwinter and Paul Gilbert were responsible for securing financing. This collaboration highlights Meridian's comprehensive approach in closing the deal.